Need to decide which option is best:
I started working for a family at the end of October for $625 a week. They were paying me under the table, but since it’s a new year, they would like to put it on the books. She offered to raise my pay to $700 to cover the difference once taxes out.
I figured if i went with the W2 choice, maybe she would do $500 on the books and $200 under the table. But i believe if she brings this to her accountants attention they would say no.
1099 isn’t the best option for me, saving is hard! And will owe the state about 4-6k. Just pointless to put myself in a egg shell!
I heard about schedule H being an option for nannies, but really don’t know much about them. I did hear you don’t have to take federal taxes out and still get paid cash!
PLEASE HELP! Let me know your experience and what you decided or would do!